So you only have three sides. Call them x, x and y.
The perimeter will be x+x+y = 2x+y = 120.
The area will be A=xy
Now using your constraint, 2x+y =120, solve for x or y and plug it into the A=xy formula. You will have a parabola equation for A (or if you prefer, you will have a quadratic eq for A). Find the maximum for A using any method you are comfortable with.